Ensign Peak Advisors Inc Reduces Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Ensign Peak Advisors Inc cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 15.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,716 shares of the electronics maker’s stock after selling 12,639 shares during the period. Ensign Peak Advisors Inc’s holdings in TE Connectivity were worth $10,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. grew its position in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Versant Capital Management Inc raised its holdings in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC purchased a new position in TE Connectivity during the second quarter valued at $30,000. Bank & Trust Co bought a new stake in TE Connectivity during the second quarter valued at about $35,000. Finally, Rise Advisors LLC purchased a new stake in TE Connectivity in the first quarter worth about $40,000. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TEL shares. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a report on Wednesday, July 24th. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a report on Saturday. They issued a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $158.73.

TE Connectivity Price Performance

NYSE:TEL opened at $148.78 on Wednesday. The firm has a market capitalization of $45.56 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The business has a 50 day simple moving average of $149.22 and a 200-day simple moving average of $147.59. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,363 shares of company stock worth $11,042,161. Insiders own 0.86% of the company’s stock.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.